The Data Suggests The US Has Been Producing In Excess Of 12 Million BOPD For The Past Two Months -- November 15, 2018 - Hallo friendsMY LIVE MY WAY, In the article you read this time with the title The Data Suggests The US Has Been Producing In Excess Of 12 Million BOPD For The Past Two Months -- November 15, 2018, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article my style, Article my way, Article New ways, Article their way, We write this you can understand. Alright, good read.

Title : The Data Suggests The US Has Been Producing In Excess Of 12 Million BOPD For The Past Two Months -- November 15, 2018
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The Data Suggests The US Has Been Producing In Excess Of 12 Million BOPD For The Past Two Months -- November 15, 2018

Because the blog has so many posts each day, it's easy for some great reader comments to get buried; missed by others.

Go to this post from earlier today, and note this comment from a reader:

November 15, 2018: see first comment ... really, really interesting, especially the "crude oil" observation:

That's the last gas injection; Kemp's graphs show heating demand closer to mid-December norms ...

https://fingfx.thomsonreuters.com/gfx/ce/7/1949/1948/US%20NATURAL%20GAS%20SELECTED%20INDICATORS.pdf

The unexpectedly high crude inventories have been telling me that [US crude oil] production has been under reported; line 13 of the weekly U.S. Petroleum Balance Sheet (unaccounted for crude) has been averaging north of 500,000 bpd for two months: https://www.eia.gov/petroleum/supply/weekly/pdf/table1.pdf 

Production + imports - exports should equal oil refined + oil stored.

My guess is that US production has been running over 12 million bopd at least a couple weeks now.

If in fact, the US is able to consistently produce in excess of 12 million bopd -- that's quite remarkable. Especially if one notes that:

• the number of rigs is well down from what it could be
• the Permian is nowhere near its potential; the Permian is in its very, very early stages
• interesting things are going on in the Bakken
• • much, much better wells
  • newly fracked wells are positively affecting existing, producing wells
• most shale fields are constrained by takeaway capacity and/or other issues
• it seems US shale operators are barely breaking a sweat

https://ift.tt/2dZyQXu

Thus Article The Data Suggests The US Has Been Producing In Excess Of 12 Million BOPD For The Past Two Months -- November 15, 2018

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